Insider Selling: Denali Therapeutics Inc. (NASDAQ:DNLI) CEO Sells 40,000 Shares of Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Denali Therapeutics Trading Down 0.8 %

Shares of NASDAQ DNLI opened at $26.08 on Thursday. The firm has a market cap of $3.72 billion, a P/E ratio of -27.17 and a beta of 1.38. The business’s 50 day moving average is $26.98 and its 200-day moving average is $22.71. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.09. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. During the same quarter in the previous year, the business earned $1.30 EPS. The firm’s quarterly revenue was down 99.7% on a year-over-year basis. Analysts forecast that Denali Therapeutics Inc. will post -2.54 EPS for the current year.

Institutional Trading of Denali Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after purchasing an additional 1,847 shares during the period. CWM LLC increased its stake in Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. PNC Financial Services Group Inc. raised its holdings in Denali Therapeutics by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after acquiring an additional 807 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Denali Therapeutics during the 4th quarter valued at $59,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Denali Therapeutics during the 1st quarter worth $88,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the topic of a number of analyst reports. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Wedbush cut their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Bank of America raised their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.22.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.